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Sun, 08 Nov 2009 | 06:23 GMT

Kuwait Airways Corporation  
Also known as: KAC
 
 
 
 
 
 
 
Company Updated: Oct 31, 2008
 
Non-Corporate Entity
 
 
Provide scheduled air transportation services for passengers and cargo.
Kuwait National Airways Corporation Until 1955
1954
3,735 (As of Oct 31, 2008)
 Key Officers
Hamad Latif Al Falah
Chairman and Managing Director
Mohammed Al Hilal
Assistant of Managing Director, Finance and Administration Affairs
 
 Contact Details
Address:
Kuwait International Airport
P.O. Box 394
Safat 13004
Kuwait
 
+965 2434-5555
+965 2434-6666
+965 2434-7777
 
+965 2243-4905
 
kwi@kuwaitairways.com
 
www.kuwait-airways.com

 
  Latest Headline
KAC Chairman praises cooperation of UAE aviation sectors  - KUNA (Kuwait News Agency)
 
  Privatization Details
Subscription
Period:
H2 2009
Equity Offering:
40%
Lead
Managers:
Kuwait Investment Authority
 

  Business Overview
The Kuwait Airways Corporation (KAC), the national carrier, provides scheduled air transportation services for passengers and cargo. The airline owns 17 aircrafts and flies to 42 destinations, as of November 2008. It flew 2.62 million passengers in 2007, compared to 2.5 million in 2006.

The airline has had a rough history. It lost a significant number of airplanes during the Iraqi occupation of Kuwait in 1990; it took on KWD381.99 million (USD1.4 billion) of debt to finance a recovery. Management began in 2006 taking steps to renew and expand its fleet by leasing 19 airplanes worth KWD818.4 million (USD3 billion). The order was later rejected by parliament however and the order was canceled in August 2007, which was followed by the resignation of the airline’s board of directors and later the cutting of 570 employees. The airline had plans to offer 40% of its shares in an initial public offering, which was put on hold in October 2008 due to the global economic crisis

Kuwait Airways Corporation provides various airport support services via its subsidiary, the Kuwait Aviation Services CompanyKuwait Aviation Services CompanyLoading.... Its other subsidiary, the Automated Systems CompanyAutomated Systems CompanyLoading... provides design, development and operation of information technology systems. The Kuwait Airways Corporation has other investments in the aviation and tourism industries.
 
 
  Industry Benchmarks  Yr 2006  Yr 2007  Change (%)
 
  Passenger Traffic 2,500,000  2,622,964  4.92 
 
  Fleet Size 17  N/A 
 
  No. of Destinations 37  42  13.51 
 
  Passenger Load Factor (PLF) 71%  72.246%  N/A 
 
  Revenue Passenger km (RPK million) 7,121  7,647  7.38 
 
  Available Seat km (ASK million) 9,928  10,584  6.61 
 
  Skytrax Ranking (Stars) 0.00 
View latest report on Aviation 
 
 Major Shareholders
This Requires Subscription
 Available to subscribers only. Information in this section includes Shareholder Names and their corresponding Holding Percentages. » More Details
 
  Organization Structure and Related Entities 
Subsidiaries/Associates/Affiliates
 
Name  Country  Holding
Kuwait Aviation Services Company Kuwait 100.00%
Automated Systems Company Kuwait 68.50%
Investments
 
Name  Country  Holding
Egyptian Aviation Services Egypt 11.66%
Alafco Aviation Lease and Finance Company Kuwait 11.47%
Haj and Umrah Services Consortium Company Kuwait 5.79%
Related Organizations
 
Name  Country  Holding
Arab Air Carriers Organization Lebanon -
 
 
Company information provided by © 2009 ABQ Zawya Ltd.
 
 
    
 
 
 
 
 

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